Bridging loan (BL) helps to bridge developer cashflow during construction and pending receipt of sales proceeds from end-purchasers and/or their end-financiers. This is to ensure the continuation of the project until completion.
- BL for all types of property development catered for developers.
- Period of BL usually varies between 2 to 4 years but not exceeding the duration of the project.
- BL amount of not less than RM250,000
- The margin of financing of up to 40% of total development cost.
- BL drawdown is allowed up to 80% of the value and stage of construction work done as certified by architects/engineer certificate.
- Repayment is via dual mode of fixed installments and redemption of titles / Units whichever is the earlier.